The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-04-21
SURE THEY WILL GET GAS
z
The Boring Companies Are Confident
that They Will Yet Be Successful.
The Driilers at Bridgeport Reach Trenton
Rock-Brightwood Well Abandoned-Ef-
feet of the Prospecting on Real Estate.

There is already perceptible tendency IN
local real figures to advance under the in
fuence of natural gas prospects The certainty
of getting it into the city is in no measure
placed on the experiments that going on
within nina or ten miles. It is the general feel
ing that # Bridgeport. Briehtwood and Twelfth
street wells fail, the new we'll at Nobesville has
anyhow assured Indianapolis of gas supply.
Within year." said business man interest
ed in the prospecting. yesterday, natural
gas will be used in our manufactures. The
speculative period is directly ahead of US. lndi-
annapolis will derive as much benefit from pipe
line supply as she would from wells at her doors.
There will be no trouble about piping it. The
outlay will not cost more than 500, 600. and the
project is taking shape. But prospecting is to
be continued in the vicinity of the city. If gas
is found nearer than Noblesvlle or Anderson it
will be SO much the better, for such supply
can be used together with that brought here
through pipes"
us there not danger in the desire for specu-
lation that attends this prospecting"
"There may be, but how are you going to
avoid it9 Indianapolis no doubt has suffered from
speculation in real estate heretofore, and those
who learned through experience will be wary.
Yet there is class of business and moneyed
men who will risk it again. This will bring
into the tide others who have yet to learn
what it is to buy in hopes of a rise Again.
there is capital that is waiting to come here
for this purpose only the moment it is certain
that the city will get gas | saw to-day a
telegram from the East to that effect, and a
gentleman just from Chicago says capitalists
there are holding off until gas is reached, when
they expect to raid the city"
what effect has the current talk about gas
and the local experiments in that direction bad
on real estateW
II can't say that the present rates are at
tributable to gas prospecting, for there has been
steady advance in the price of lots the last few
months. But within few days there has been
evidenced an upward scale that predicts higher
prices. This advance is general, and one locality
will serve to explain the conditions of any other.
In certain suburb, two years ago, lots could
| find no purchasers at 5000 each. Now
$4,000 each is refused One subdivision
| was covered by blanket mortgage,
| which the mortgages would not foreclose
| because they could not get enough for the lots
| to pay the lawyers and court fees Those lots
to-day are in demand, and from $500 to 5000 is
| offered for them. There was another case of
| this kind, and the other day the agent for the
property told me he had sixty inquiries as to the
| prices at which they are now held. Suburban
lots east of the city that few months ago
| were held at $3.50 have been recently sold at an
average price of 500. could give you many
| other instances of this character, but one other
| will serve. Near the Reformatory, last winter,
| large tract was subdivided, and out of $50 lots
! sixty have already been sold But this is only a
side issue of what we may expect when
we get gas. With it in five years
we can double our population. If we have tc
| pipe it, manufacturers will give Indianapolis
the preference on account of her great railroad
| facilities and other advantages. You will no,
| find q large manufacturer going to a town with
but one two railroads. even if it has gas
| when he can get the same cheap fuel here. 1t is
certain to come. This city will consume about
40 900, 900 feet daily, and to get it here through
| pipes will require mains Of double the strength
| needed for manufactured gas. 1t can be sup
! piled to us about cheaply as if we sur
rounded by wells only five or six miles away"
1t was expected that the Bridgeport dril1er
! would reach Trenton rock some time yesterday
| A number of the Indianapolis Natural-eas Com
panys directors were there. but night came
! when the drill had gone down to the skai,
| which is supposed to cover the rock Worl
| was then stopped until this morning. The
depth is $50 feet about that of the
| Brightwood we'll when the drillers
quit last Saturday at midnight On,
| of the directors of the company says the indca
| tlons are favorable. He does not expect a yielt
| of gas, but it is certain it cannot be far away
The Capital City directors continued the
| drilling yesterday at Brightwood with no bette
| results than heretofore detailed. 1t is probabl,
that this we'll will be abandoned, and their pros
| pecting resumed with more hopefulness in
locality not far from the spot where the drillins
| has been done.